DRC: Five gold exploration permits acquired

Thursday, 28 April 2011 15:04

Shamika2Gold and Shamika resources agree on beginnings of international expansion project

Shamika2Gold Inc. has entered into a definitive agreement with Shamika Resources to acquire five gold exploration permits in the Democratic Republic of the Congo (DRC) for a total consideration consisting of 15mn shares of Aultra Gold, a $500,000 promissory note and a 2.5 per cent net smelter return (NSR) on exploration licenses PR-10190, PR- 10192, PR- 10185, PR- 8708 and PR- 3619 covering a total of 830 km².

Robert Vivian, Chief Executive Officer of Shamika2Gold, Inc. and founder of Shamika Resources, Inc. stated, "The development of projects in the DRC is a first step in our strategy to expand internationally through acquisitions into other parts of the world with attractive early stage gold production resources opportunities.”